Aquis Exchange PLC on Tuesday announced that Glenn Collinson has decided to step down as chair and director of Aquis with immediate effect for personal reasons.

Aquis Exchange covers European markets from London and Paris and offers primary listings and secondary trading of equities.

The firm’s independent non-executive director, Deirdre Somers, has been appointed as non-executive chair and will retain her position on the audit, risk & compliance committee and nominations & remuneration committee.

She previously worked as chief executive officer of the Irish Stock Exchange PLC including during its sale to Euronext NV.

Aquis said Collinson ‘wishes to pursue other interests in the technology sector’ and the previous announcement of a recommended cash offer from Six Exchange Group AG to purchase Aquis is an ‘appropriate opportunity’ to do so.

The company said Collinson ‘remains fully supportive of the Six offer and continues to believe that its terms are fair and reasonable’.

Glenn Collinson said: ‘It has been a pleasure working with the Aquis team and seeing the successful development of the business, culminating in the announcement of the Six offer, which is an excellent outcome for Aquis and its shareholders. I’m confident that Aquis will continue to go from strength to strength.’

Incoming Non-Executive Chair Deirdre Somers said: ‘I am delighted to succeed Glenn as chair of Aquis, at an exciting moment for the business following the announcement of the proposed combination with Six. I look forward to working with Alasdair [Haynes, CEO] and the board to progress the transaction which presents a compelling opportunity to accelerate the development of our business on the European stage.’

Aquis Exchange shares were flat at 700.10 pence in London on Tuesday afternoon.

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